Originally Posted by
Mesabah
Yeah, this motion will be rejected because it would cause Chapter 7. As I've said before, Delta bankrupted us by not paying us for the merger costs. This is because Colgan was integrated in, and Delta was not going to pay for any of that.
Now Delta sees an opportunity here for us and it is not related to parking 200's; The question is, what is that plan? My guess would be it has something to do with Comair.
Whether it would cause Chapter 7 or hardship has nothing to do with the Judge's ruling. Bankruptcy case law clearly stipulates that all creditors have to be treated equally. Delta is trying to improve their status as a creditor by granting the DIP loan. We'll see whose arguments win in court, but if the company and Delta cannot convince the Judge that this is not a Sub Rosa bankrupcy then the motion to deny the DIP loan will be approved, unfortunately.